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MSNBC
Dec 31, 2012 1:00am PST
they are for 98% of americans. 97% of small businesses. but if we're serious about deficit reduction, we should make sure that the wealthy are paying a little bit more and combine that with spending cuts to reduce our deficit and put our economy on a long-term trajectory of growth. we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership and i suggested to them if they can't do a comprehensive package of smart deficit reduction, let's at minimum make sure that people's taxes don't go up. and that two million people don't lose their unemployment insurance. and i was modestly optimistic yesterday. but we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure that middle classes taxes stay where they are and there should be an up or down vote. i think there's a majority support for making sure that the middle class fam
MSNBC
Dec 24, 2012 11:00am PST
did with the deficit. >> but the fact that all of these things need to believe in the grand bargain, sort to speak -- >> they do not. social security shouldn't even be on the table because it is nothing to do with the deficit. doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand is entitlement cuts. medicare and social security. >> talk about the debt ceilin
MSNBC
Dec 31, 2012 10:00am PST
to know that taxes should go up as part of an overall deficit reduction. >> a health scare for hillary clinton. new details as the secretary of state undergoes treatment for a blood clot in a new york hospital. >>> ringing in the new year. from sydney to new york city. the world turns the page to 2013. good day. i'm chris live in washington in for andrea today. deal or no deal? as vice president joe biden and senate republican leader mitch mcconnell continue negotiations, we just have learned that president obama will speak about the fiscal cliff at 1:30 p.m. eastern time. with all that happening, let's get right to our daily fix. nbc's kelly o'donnell on capitol hill, nbc's kristen welker at the white house, and jonathan capehart, washington post editorial writer and my colleague and an msnbc contributor. okay, kelly. the action is on the hill where it's been for the last few days. let's start with you. this is a fast-moving story. give us the latest perimeters of what appears -- i emphasize appears to be the start of a deal. >> well, it has been coming closer together, so we
MSNBC
Dec 27, 2012 9:00am PST
the last three years of the obama administration, on the budget, on deficit, on tax cuts years ago. they came together before christmas. it's hard to see how this works out at this point, to tell you the truth. there is a conference call at 2:30 among house republicans trying to decide what to do. we expect the leadership to let the rank and file know what their plans are. the speaker is not in washington. we understand he is in ohio of his home state. the president has landed here back at the white house in washington. it's unclear exactly where they go from here. essentially what john boehner is saying, you go first, harry reid. harry reid is trying to jam mitch mcconnell into allowing this vote to go forward without the 60-vote threshold, something that's necessary for virtually every vote here in the senate and mitch mcconnell says it's time for president obama to lead. the threshold question is, can something pass the house of representatives? can john boehner put something on the floor that needs the majority of democrat support that will not get republican support and none t
MSNBC
Dec 30, 2012 3:00pm PST
republican resistance. >> they say their biggest priority is to deal with the deficit in the biggest way. but their only priority is making sure that tax breaks for the wealthiest americans are protected. at some point, i think what's important is that they listen to the american people. >> joining me now, congressman chris von holland of maryland. good evening. it is a good sign that chained cpi is off the table. the senate will be back tomorrow at 11:00. how high is your optimism or pessimism at this moment? >> well, it was a very bad sign when senator mcconnell put this social security change on the table, as part of a small deal, that was obviously something that could have totally thrown a monkey wrench into the process. so the fact that they backed off that is obviously good news. but as senator reid said, there are lots of obstacles still to go. and the fundamental issue remains what the president just said in that clip. both today and for the last year, the number one priority of republicans have been -- has been to use the middle class tax cuts as leverage to try and extract the
MSNBC
Dec 30, 2012 5:00am PST
fiscal cliff. if political concoction enacted by congress to frighten itself into passing deficit reduction measures which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcements to get their act together with he didn't exactly project confidence. >> this is d
MSNBC
Dec 26, 2012 6:00pm PST
to avoid, the actual danger to the economy, is that we will get too much deficit reduction too quickly. if reducing the deficit was what the economy needed we could go right off the cliff and leave it there. you can see it in this graph, that line going down. that is the fiscal cliff, we went over our deficit problems, gone baby, totally, totally gone. one thing the fear of the fiscal cliff shows by the way, in the fox hole, everyone's a kinsian. everyone agrees. that is number one. too much austerity way too quickly. president obama is not asking for that much in taxes. it's worth getting a bit of perspective in here. you'll be shocked to know, we got a graph for that. here's what happens if we go over the cliff. you get more than $5 trillion in tax increases off the bat. and now here's what happens if we pass the sainted simpson bowles plan. you've heard of the plan. they have 2.6 trillion in tax increases. president obama's latest offer to john boehner has 1.2 trillion in taxes. that is half as much, less than half than simpson bowles, and less than a quarter of what is in -
MSNBC
Dec 30, 2012 4:00pm PST
serious about deficit reduction, we should make sure that the wealthy are paying a little bit more and combine that with spending cuts to reduce our deficit and put our economy on a long-term trajectory of growth. we have been talking to the republicans ever since the election was over. they have had trouble saying yes to a number of repeated offers. yesterday i had another meeting with the leadership and i suggested to them if they can't do a comprehensive package of smart deficit reduction, let's at minimum make sure that people's taxes don't go up. and that two million people don't lose their unemployment insurance. and i was modestly optimistic yesterday. but we don't yet see an agreement and now the pressure is on congress to produce. if they don't, what i've said is that in the senate, we should go ahead and introduce legislation that would make sure that middle classes taxes stay where they are and there should be an up or down vote. i think there's a majority support for making sure that the middle class families are held harmless. >> if you go over the cliff, what's the impact
MSNBC
Dec 31, 2012 2:00am PST
an obligation to the american people to make sure that the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. there is a basic fairness that is at stake in this whole thing. >> reporter: republicans say to be fair the president must focus on entitlement reform to reduce the deficit. >> are you prepared to do that in your first year of the second term? >> what i said is i'm prepared to do everything i can to make sure medicare and social security are there not just for this generation but for future generations. >> reporter: the president said despite the current gridlock he remains optimistic but asserted democracy is messi. >> one way or another we'll get through this. do i wish that things were more orderly in washington? and ration enamel? and people listened to the best arguments and compromised and operate in a more thoughtful and organized fashion? absolutely. when you look at history that's the exception rather than the norm. >> now here is your "first look" at politics. long lines in florida discouraged 49,000 people in voting. on "
MSNBC
Dec 31, 2012 2:00pm PST
in part, my sources are telling me, so they can do some real sort of comprehensive deficit reduction tax reform within a year. they're hoping that their chances will improve with the new congress and with a little bit more time. so that is where things stand right now at the white house. certainly they are hoping that there is a vote in the senate, but as you point out, chris, that is not a guarantee. >> hold on, kristin welker. let me go back to mike viqueira. is there sort of a conventional wisdom at this point when we could see a vote? >> reporter: you know, i'm going to hesitate to get into that. i have got to get out of the prognostication business here, chris, because so much of this is up in the air. i think you'll be heartened to learn that house republican leadership aides watch msnbc and i just received an e-mail emphasizing that there's nothing for the house to vote on. they're sort of sore about this idea that they are the ones sort of taking us over the cliff by not voting tonight. they say that their whip notice said as announced in previous updates, we expect previous
MSNBC
Dec 26, 2012 11:00pm PST
pluto and we're all on earth. they say they want deficit reduction. if you go over the cliff, you get deficit reduction, you just don't get it in the responsible, accountable way. it's like chopping off on arm. >> like says i want a shower, i'm going to niagra falls. >> they still can't get it done. we're dysfunctional. no other explanation. >> i think they can stop the roller coaster and make it go. they're doing a dance now because republicans don't want to do something to rates. obama wants to play hardball. but i think they'll have a different argument later in the year. >> i guess both believe it's better to go over the falls than cut a deal that's going to hurt them at home. tea party people don't respond to boehner or to cantor or mccarthy or any of them. somebody in the next tea party is going to be yelling from the back, you sold us out. i think that's why the tea party is never going to be functional. they don't really respond to getting things done. they respond to anger back home. >> i think 2014 democrats are also aware of these tax increases. they don't want to run i
MSNBC
Jan 1, 2013 7:00am PST
think that adds to the deficit. they don't think there are enough spending cuts. they also don't like the extension of the middle class tax cuts that were the president's stimulus package. also some liberals don't like the bill because they feel it gives, takes away their leverage to argue for more taxes in the future in terms of deficit deals and the rest of them would only come by cuts. so what you're going to see is at noon, nancy pelosi is going to talk to the house democratic caucus. there have been some rumors that joe biden could come up here on new year's day to sell the plan, very much like he did to the senate ds earlier this morning. you'll also see john boehner meeting with his conference at 1:00 p.m. i've been told by folks close to boehner that these -- it is by no means a done deal. he is keeping the door open to possibly amending the senate bill. now you think with the 9 votes they wouldn't want to do that, they'd want to put this to bed. but the house republicans have been known to scuttle these types of deals in the 11th hour before. there is some optimism on th
MSNBC
Dec 30, 2012 2:00pm PST
believe this debate ought to be about. it ought to be about reducing the deficit and the debt, and what they are essentially suggesting is we want new taxes. we want higher taxes on people in this country to pay for new spending. >> so what happens next? with us nbc news capitol hill correspondent mike vic rah and nbc news white house correspondent kristen welker. mike, let's get started with you. what's happening right now in the senate. i understand there's an update on the chained cpi. >> reporter: they say the darkest hour right before the dawn, melissa. everybody ought to hope that's true, at least if you don't want to see your taxes go up on midnight on monday and tuesday night because everything seems to be at a standstill right now. let's review the bidding. here it is from a republican source here on the republican side of capitol hill. all day yesterday they were trading proposals back and forth. by his count two democratic offers came back to republicans and four came back from republicans to democrats. the last one being at 7:00 last night, and, boom, after that, things
MSNBC
Jan 1, 2013 5:00am PST
likely future fights about how to deal with paying for a way to bring down the deficit by other kinds of cuts. that's been at the heart of this fight. now, today the house of representatives comes in, they cast a vote, and because the senate vote is so overwhelmingly bipartisan, 89-8, it's hoped that that will have influence in the house to at least get this deal done now with a chance to talk about some of these issues some more in the new congress and in the months ahead. chris? >> kelly o'donnell, thank you. well, all eyes do now turn to the republican-controlled house and speaker john boehner. about two hours before the senate voted, the house leadership said it would take a wait-and-see approach. "decisions about whether the house will seek to accept or promptly amend the measure will not be made until house members and the american people have been able to review the legislation." with me now, "the washington post's" david machimura and steve toma, chief political correspondent for "mclatchy" newspapers. good morning. >> good morning. >> happy new year. >> happy new year. david,
MSNBC
Dec 31, 2012 11:00am PST
deficit reduction. you also heard him talk about the fact that the new revenues would be hundreds of billions of dollars. what he initially wanted was about $1.6 trillion so this is a compromise on his part, as well. republicans initially coming, raising their offer so they kind of came to the middle on that point. but, again, the one sticking point that remains, the sequester and what negotiators continue to hammer out. vice president biden playing a key role in the negotiations having served more than 30 years in the senate. he knows how these types of negotiations get done. really, better than anyone. he, mitch mcconnell with whom he has a strong relationship, trying to take it to the finish line. >> i guess that's something given how many sticking points we were up against before. thank you so much. >> reporter: thanks. >> any deal from the 11th hour talks will be rushed through both chambers of congress. mike viqueira at capitol hill for us. is that possible at this point? >> reporter: it's possible. whether it's likely is an entirely different matter, t.j. it's interesting how
MSNBC
Dec 31, 2012 8:00pm PST
have complained about the bush tax cut causing the deficit and tonight looks like the deal has been cut with joe biden and the democrats to make those very same tax cuts. at least a majority of them, $3 trillion permanent. the question? how is it paid for? where are the spending cuts to offset the $3 trillion that these tax cuts will cost us? there is a lot more to be done in this deal. pushing this do you understand the road to march gives a whole new definition to march madness, you will deal with sequestration, the debt increase, and a host of other things, so we'll see how this plays out. republicans have a lot to chew on in the next 12 hours or so, simply because we have been working on raising tax as. a lot of new legislators that took the pledge we would get spending in control before spending would be touched that will be interesting forrepublicans in the house. waiting to see what deal is. mcconnell and the president and biden have worked out. we'll go from there. >> in your opinion, what are the spending cuts that are being talked about, eventually? what are those? what do you
MSNBC
Dec 31, 2012 6:00pm PST
, especially today dealing with how to reduce the deficit with spending cuts. one of the big concerns that lawmakers have is the impact of these across-the-board spending cuts due to kick in at midnight tonight, that will affect many federal agencies and the military. and the concern is that would cost jobs, it would limit programs, and would have a harmful effect on the economy. so to delay that has a cost that further adds to the deficit. so they have been trying to find ways to offset that cost. to bring in new revenue through these new taxes, to protect the current tax rates for the majority of americans. so anyone who earns less than 400,000 dollars as an individual will have the same tax rates as they do now. other sorts of tax provisions like the 2% payroll tax will stay in effect. and for those people who have been out of work the longest and have been depending on unemployment benefits, those will continue as a part of this deal. it is complicated. it has very significant impact on the economy, on people's pocketbooks, and there has been sharp political divide for a very long time
MSNBC
Dec 31, 2012 9:00am PST
. they have to be taken into the -- >> did is it reduce the deficit, which is the whole point of this in the first place, right? >> about $1 billion maybe. >> republicans are essentially arguing against deficit reduction. they're looking for higher thresholds, which curtail deficit reduction. i want to ask you this, because isn't there a philosophical sort of win for the democrats anyway because this will be the first time republicans were enacting a tax increase, you know, since biggie and tupac were alive? septemb isn't that a win? >> yes, that is a win. i think that a lot of this could come down to this paired down democratic plan that could come up on the senate floor. if everything else goes out the window, it's the strictly $250,000 threshold, you know, extend unemployment insurance, and come up with a broader plan and punt everything else. >> does it get to the house? can that get through the house? >> right. >> the house people are telling me, house republicans are telling me, that if the margin in the senate is, like, 70-30, then clearly speaker boehner will have enough juice
MSNBC
Dec 31, 2012 4:00am PST
serious down payment on the deficit reduction we need. most importantly, it will allow us to avoid default and end the crisis that washington imposed on the rest of america. it ensures also that we will not face this same kind of crisis again in six months or eight months or 12 months. and it will begin to lift the cloud of debt and the cloud of uncertainty that hangs over our economy. >> it's a real disappointment today. i'm sorry that the so-called super committee was not able to do its work because this makes it much more difficult to achieve the deficit reduction targets that must be done. what happens next is there will be $1.2 trillion reduction in spending through what's called sequester. >> under current law on january 1st, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long-run fiscal improvement without having it all happen at one date. >> there's still significant distance between the two sides, but negotiations continue. there's still time left to r
MSNBC
Dec 28, 2012 10:00am PST
at trillion dollar deficits every year. and the reality is that the house has already sent would measures on to the senate. one addressed the continuing bush era tax rates and the other that would erase the military spending. those are in the hands of the senate. they can act on those right now. we can put this thing to rest. we will wait and see what happens in this meeting and hopefully we will come to some kind of agreement to avoid this cliff. >> what do you think the best thing to come out of this meeting? >> i think that speaker boehner and the president walk out and be able to announce they have a team in next three days that will have an outline in which -- alice just mentioned the details will be hammered out in the first would weeks in january. we have that amount of time to stop the fiscal cliff. if we go over the fiscal cliff $700 billion of spending will be taken out of our economy. we have to change the scale of that fiscal cliff to a slight gradual bunny slope. so that our economy won't be zero next year. that is in a recession which will occur if we take $700 bill
MSNBC
Dec 27, 2012 12:00pm PST
have an economy that's anti-fragile. you need also to have less deficit on the part of government and transfer it to the states. more decentralized decision making. why? because if you do you have decentralized errors. not one error dragging you down and last decade two errors in the down. iraq war. you know? it was a horror from human side. but it cost between 40 and 120 times the original estimates. you don't want mistake that is are very large. a fragile system is one in which mistakes are costly and the benefits are small and anti-fragile system is one in which mistakes are small and bring long-term benefits. we want to be in that environment and environment that ben filths of mistakes. >> i hear what you're saying. shifting the debt burden from the federal government and states and federal government is a better position to carry debt. states have these constitutional balance budget amendments and bail out the states, isn't it? >> this is exactly the problem we have is that the government finds it easy to borrow and runaway deficit. let me explain the big thing. a project in
MSNBC
Dec 26, 2012 10:00pm PST
about the fiscal cliff is it's too much deficit reduction too fast. so all of this takes place against a debate about how to reduce the budget deficit. that's why you get into this theater of the absurd. >> well, and look at the tape you showed at the opening of the program with keith boykin over and over again showing the dysfunction of congress. they made this so onerous with the belief it would make them do something less onerous and now they're right up against it. >> they really know how to make these crises happen. political correspondent and writer, john howard, thank you very much for joining me and former labor secretary robert reich, thank you for joining me tonight. >>> coming up, the nra has done much more damage than you think. and they've made gun ownership much harder to trace. >>> and the romneys keep trying new explanations for why mitt lost. but they aren't getting any closer to the truth. and as some of you on twitter already know, i am wearing a christmas gift or two on the show tonight. there is still time to tweet your guesses about what it is. the answer
MSNBC
Dec 29, 2012 12:00pm PST
john boehner started initially working on. that plan would have dealt with tax reform and deficit reduction and this will be a much more scaled back version that will deal with the issue of taxes and that is still the big sticking point, taxes. of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't think that the tax rate should go up on anyone. so taxes still the major sticking point. right now the negotiations are going on the hill and there's a lot of optimism that came from the talks yesterday. of course, president obama hosted congressional leaders at the white house and they left that meeting and many said that it was constructive and they were optimistic that a deal could get done and i've been talking to my sources today and that same optimism isn't really present right now. there's more skepticism about a deal getting done and it is sti
MSNBC
Dec 30, 2012 12:00pm PST
something that addresses the long-term deficit. whether that can happen in this deal seems to be the problem. democrats have said if they can get something bigger they would be open to changes in entitlements. that is where things stand. there is clearly even handed on both sides saying they want to get things done. you know the clock is running and those signs make everyone think this may not resolve itself tonight. >> thank you very much. >>> let's go to the white house and kristen welker. hi there. >> reporter: hi, there. the white house is not commenting on these developments. senior administration officials say the action is going on on the hill right now. they are hesitant to weigh in. they don't want to disrupt any progress or setbacks that may be in the process of being resolved. so that is what the white house is saying publicly. i can tell you that behind the scenes it is a very busy day here at the white house. staffers have been on the phone with their counter parts on the hill. president obama also on the phone as you heard report he has spoken a number of times to major
MSNBC
Dec 31, 2012 6:00am PST
little bit as part of an overall deficit reduction package. >> nbc's capitol hill correspondent kelly o'donnell is live on capitol hill. kelly o., i'm looking at the clock, we are now 14 hours and 58 minutes from going over the fiscal cliff. let's outline -- >> reporter: but who's counting, right, chris? >> yeah, who's counting? let's go over for people, what remains unresolved? it seems like two weeks ago they were pretty well set on the basic parameters of this thing, so let's talk about what's left to deal on? >> reporter: well, there are some significant differences, but there has been progress. i've been talking to sources who say that the vice president and mitch mcconnell stayed on the phone exchanging calls until around midnight last night and that staffers who are key to this process continue talking after that. as you know, there are very few people in the room, so to speak, who really have their fingerprints on whatever deal may eventually come and what has been passed between the two sides so far. about six proposals back and forth, and i'm told that the most recent propos
MSNBC
Dec 26, 2012 8:00pm PST
. >> if this can make the deficit worse in a relatively small way. supermarkets are not going to be able to sell milk at $8 a gallon. the government will buy it at that price or a much higher price than it's paying now, under the 1949 law when cows were milked by hand instead of machines. it will have to sell that milk at a loss. >> yeah, and selling at a loss is going to do tremendous damage to that industry. what would the real world impact of a price hike like this be. >> if milk went up that much, you would see a huge change in the dietary habits of americans, including children. they would be drinking water and soda. remember we have all these sugary drinks that people are letting their children have. and you would see this big shift away from milk toward those kinds of drinks. the real underlying story here, i think the important one is about how we are seeing the way the republicans are likely to behave for the next two years, i think this is going to turn out to be an extraordinarily difficult and weird and unusual period in american history. >> david k. johnston, thank you
MSNBC
Dec 24, 2012 8:00am PST
, something to prevent taxes going up, and also lay the groundwork potentially for deficit reduction in the future. i think you will see president obama cut his vacation short, and continue to play a role in those negotiations. richard. >>> kristin, over the weekend, he attended the funeral for the late senator inouye, who he has called an inspiration to him. what did you see in that service? >> well, more than 20 members of congress attended, mostly democrats, majority leader harry reid spoke and praised senator inouye for his partisan spirit, reaching across the aisle. of course in an earlier memorial service, the president called the late senator his earlier inspiration, on a a lot of members of congress came together to pay their respects. >> thank you, kristin. >>> if congress and the president fail to reach a deal, the impact is as unlikely as immediate as the term "fiscal cliff" seems to imply. the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 milli
MSNBC
Dec 28, 2012 10:00pm PST
, deficit reduction, and affordable care act. >> with no explanation of what they were for the average person. >> it was sort of the inside the beltway debate, and you get one positive debate for the entire fall campaign. you open things up to new voices to broader perspectives. i don't mean to pick on jim lehrer too much, but really, enough of it. >> chris, the worst move? >> the worst move, the decision by both the obama campaign and the not so surprising decision on never raising climate change for the first time. since 1988, if you go back to the tape when lloyd benson, they both said yeah, that will be a problem, we should do something about it. here we are, 24 years later and it doesn't even get a mention in any of the debates. >> i have another video assist, the worst move, the worst decision of the campaign was to do what you're about to see. at the republican convention. >> oh. >> i just wondered -- all of these promises, and then i wondered about -- you know, when -- the -- what do you want me to tell romney? i can't tell him to do that. can't do that to himself. you're absol
MSNBC
Dec 29, 2012 1:00pm PST
growth and deficit reduction. >> everything that has been happening in the last several hours has been happening behind the scenes. we have correspondents tracking everything for you. we have luke, luke, i will start with you this hour. the senate officially reconvenes tomorrow afternoon. i assume that there's a lot of closed door talks going on right now. is that true? what can you tell us? >> reporter: that is true, staff from harry reed and mitch mcconnell have been negotiating through the daout the day and in picked up. we have heard that both sides are not budgeting. but we don't know, things can change at any moment. if we have to gauge how to talks have gone so far from the conversations we have had here around capitol hill, they have not been too good at the moment. all that being said though, craig, there's a lot that can happen over the next 48 hours. the deal obviously is to try to have something on the floor that can pass the house of representatives by new year's eve. that is why it's so difficult, craig. you have mitch mcconnell and harry reed trying to get something pass
MSNBC
Dec 31, 2012 5:00am PST
fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. the offers that i've made to them have been so fair that a lot of democrats are getting mad at me. i mean, i offered to make some significant changes to our entitlement programs in order to reduce the deficit. they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> fiscal cliff negotiations are now down to the wire with a midnight deadline just hours away. that's tonight, new year's eve. at stake, the prospect of sweeping tax hikes and across-the-board spending cuts if a deal is not reached. and all indications are it's not looking good. here's the latest. the senate is scheduled to reconvene at 11:00 this morning. any deal today would have to be rushed through both chambers of congress before midnight. as talks in the senate stalled yesterday, minority leader mitch mcconnell reached out to
MSNBC
Dec 26, 2012 9:00am PST
left is cutting taxes. if the goal is to reduce the deficit, their goal of cutting taxes is not relevant to that goal so there's no overlap of potential agreement here. that's why there's no deal. >> let's take a listen to a very conservative retiring senator said, soon to be former senator joe lieberman, who is respected and seen as a deal maker. what we need right now is a deal. let's take a listen to something he just said. >> if we allow that to happen, it will be the most colossal, consequential act of congressional irresponsibility in a long time, maybe ever in american history. >> joy, i think what he's saying there and going over the cliff is not that this would be the worst thing congress has done on an objective scale, but the notion of doing something so bad for no reason is pretty frustrating, isn't it? >> i disagree with his characterization it would be the most irresponsible thing. i think messing around with not raising the debt ceiling and risking the default on the american debt was probably the most irresponsible thing we've seen this congress do, but the thing
MSNBC
Dec 27, 2012 3:00am PST
providing us also with the means to float the deficit. these are the people providing a lot of our financing. well, at some point if this goes on long enough, they begin to think, hold it. >> who's writing a lot of our financing? >> mainly foreign governments as well as markets. holding on to treasuries and the rest. so the question, then, at some point do they go, hold it. if these guys aren't serious, why am i depending upon them so much? and the scariest single scenario is ultimately people start saying before i continue to float the united states, i want to get a slightly higher return to take -- in order to -- because of this risk. because of this uncertainty. that is the day the spiral begins because that's the day mr. bernanke and his colleagues have to think about raising rates in order to attract the necessary financing. we don't want to get there. and what's so scary about this twofer of the cliff and the debt ceiling over the next two months, basically till the end of february, is for the rest of the world looking at us, we essentially have -- it's not so much next week.
MSNBC
Dec 28, 2012 2:00pm PST
been working with leaders to try to forge an agreement to grow our economy and shrink the deficit. a balanced plan that would cut spending a responsible way, but also ask the wealthiest americans to pay a little more and protect the middle class and everyone striving to get into the middle class. i still want to get this cone. it's the right thing for our families. but the hour for immediate action is here. it is now. we're now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american's paycheck will get considerably smaller. and that would be the wrong thing to do. it would be bad for middle class families and bad for businesses that depend on family spending. forchew nat ew fortunately, con can prevent it from happening. i just had a good discussion about how to prevent this tax hike on the middle class. and i'm optimistic we may still be able to reach an agreement that can pass both houses in time. senators reid and mcconnell are working on such an agreement as we speak. but if an agreement isn't reached in time between senator
MSNBC
Dec 29, 2012 1:00am PST
future cooperation on more economic growth and deficit reduction. you guys, i can hear you over there. i believe such a proposal could pass both houses with bipartisan majorities. as long as those leaders allow it, to actually come to a vote. if members of the house or the senate want to vote no, they can, but we should let everybody vote. >> i would actually really like to know who he was shushing there. but to his main point, here's what the president intends to do. senators reid and mcconnell will try to come to a deal. if they fail, the white house and harry reid are going to try to jam through a bill that increases taxes on rich people and extends unemployment insurance, which are the two key democratic priorities. they'll pretty much dare republicans to block it. and republicans probably won't be able to, at least not for long. here's johnny isaacson, a republican senator from georgia, over the weekend. >> if we get down to the end of this year, and the only choice we have is to save taxes going up on the middle class, then i would support that. >> last weekend, "the wall street
MSNBC
Dec 26, 2012 2:30am PST
joy and celebration and recent tragic events gave this year's holiday a deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts. first responders from surrounding communities gave their time so surrounding police could spend the time with their families. >> this is why we're here. something needs to be done. glad we can be here. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in the new york airy, where hundreds are still without homes because of hurricane sandy, volunteers tried to deliver some holiday spirit. >> every table is labelled. >> reporter: handing out food, toys and blankets at relief centers. >> it's important people come out and help people. you can't put a price on that or buy that either. >> reporter: in places spared direct tragedy americans marked the day in their own ways while keeping those less fortunate in their thoughts. >> when people are suffering and going t
MSNBC
Dec 26, 2012 2:00am PST
deficit feeling. >> reporter: in newtown, connecticut, it was a day of lingering heartache. empty stockings hung as reminders of loss filled with gifts and police helps for time with their families. >> glad we can do it. >> a pleasure to help them out. >> police officers giving police officers time off, you couldn't ask for a better christmas gift. >> reporter: in the new york area, still without homes because of hurricane sandy, volunteers tried to deliver holiday spirit, handing out food, toys and blankets at relief centers. >> people came out to help people. you can't put a price on that or buy that either. >> reporter: in places spared direct tragedy americans marked it with their own ways keeping those less fortunate in their thoughts. >> when people are suffering and going through hardship, many, many people come to offer their help in whatever they can do. >> reporter: across the nation, americans attended church services and spent time with family and friends. at the mitchell home outside chicago, even young members of the extended family said this christmas felt deficit.
MSNBC
Jan 1, 2013 6:00am PST
included tax reform, entitlement reform and savings, real savings to get on top of the deficit and the debt. but you know, we can't do the whole thing at once, let's get as much done as we can. we've got to move forward. this is a big step on the tax piece. more work to do. we've got to get after it. >> you're one of just a handful of congressional republicans who did not sign the norquist antitax pledge, but do you think that the fact that we technically went over the cliff gives house republicans who have signed it kind of some political cover to back this bill which now, technically, cuts taxes, rather than raises them? >> this makes lower rates permanent. and without it, tax rates are going to go higher. and not just on regular earned income but capital gains and dividends and also the estate tax. so you know, this clearly, it was a key piece of legislation to keep tax rates lower for working americans and all households up to $450,000. >> do you have a good sense of what the feeling is on the republican side over in the house, senator? >> we had a big vote in the senate. you know,
MSNBC
Dec 30, 2012 9:00am PST
january 1st, this problem still hasn't been solved, that we haven't seen the deficit reduction that we could have had, the republicans willing to take a deal that i give them. if they say that people's taxes have gone up, which means consumer spending is depressed, then it's going to have an adverse reaction in the markets. >> there was much more to what the president had to say. listen to what he had to say on deficits and spending. >> you are not only going to cut your way to prosperity. one of the fallacies, i think, that has been promoted is this notion that deficit reduction is only a matter of cutting programs that are really important to seniors, students and so forth. that has to be part of the mix. but, what i ran on and what the american people elected me to do is put forward a balances approached. >> i want you to listen to something else. the president spoke about the tragedy in newtown, connecticut. he described it in a way he's not quite done so publicly before. listen to this. >> this is something that, you know, that was the worst day of my presidency. it's not somet
MSNBC
Dec 31, 2012 12:00pm PST
bigger deal, a grand bargain. whatever you want to call it. that solves our deficit problems in a balanced and responsible way. with this congress, that was obviously a little bit too much to hope for at this time. it may be we can do it in stages. >> there are a number of issues on which the two sides are still apart but negotiations are continuing as i speak. but we really are running out of time. >> the vice president and i have worked together on solutions before and i believe we can again. >> no holiday for the best political team around. a triple threat, luke russert and mike viqueira on the capitol hill and kristen welker from the white house. are you happy to be working on the holiday? >> it's fantastic. >> absolutely. >> sounded believable. viq, let's start with you. we have news trickling out today. working, trying to make a deal. what's going on? >> it's washington, d.c. nothing is as it appears. we6 classic kabuki theater going on here, toree. the president, jovial, said they were close to a deal. that joe biden, the negotiations with mitch mcconnell essentially borne
MSNBC
Dec 31, 2012 7:00am PST
cliff will come if we fail to deal with our debt and deficit. we just can't do that. >> that -- >> i don't like the content of the sequester. i do think it inordinately hits defense but that is something we can negotiate once we get into the new year. but to turn off those cuts would be just a frank admission we can't cut spending ever. i think the markets will respond very negatively to that and as well they should. >> you've also said republicans are resigned to seeing some sort of income tax hike. i wonder what is acceptable to you. we've heard 400,000, we've heard 450,000. is there a point at which it's a point of no return for you? >> well, my preference is to leave the rates where they are for everyone. we know that is not going to be the case. the president wouldn't sign such a bill. the democrats in the senate wouldn't pass it. so my goal is to pro-fekt tect y taxpayers as possible from higher tax rates. i don't know where that will be but the truth is that at midnight tonight taxes on everybody go up automatically, so i'll take a deal that can protect lower tax rates
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